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OM Group sells cobalt advanced materials business for $435 million

4:17 AM MST | January 22, 2013 | Natasha Alperowicz

OM Group said on Monday that it signed a definitive agreement to sell its advanced materials business, a leading producer of inorganic products using unrefined cobalt and other metals. The divestment to a joint venture among Freeport-McMoRan Copper & Gold, Canada’s Lundin Mining, and Congo’s state-owned mining group La Générale des Carrières et des Mines (Gécamines), is a major step in OM Group’s strategic evolution, the company says. The deal is worth up to $435 million, including an initial cash consideration of...

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